Grocery Outlet (NASDAQ:GO) Given New $18.00 Price Target at Telsey Advisory Group

Grocery Outlet (NASDAQ:GO) had its target price decreased by Telsey Advisory Group from $19.00 to $18.00 in a research note issued to investors on Wednesday,Benzinga reports. Telsey Advisory Group currently has a market perform rating on the stock.

Several other research analysts also recently commented on GO. TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and reduced their price objective for the company from $25.00 to $16.00 in a research note on Wednesday. Roth Mkm lowered their price target on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. The Goldman Sachs Group cut their price objective on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Craig Hallum cut their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.00.

Grocery Outlet Price Performance

NASDAQ:GO opened at $17.80 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.29. The company has a 50 day moving average price of $16.55 and a 200-day moving average price of $19.58. Grocery Outlet has a 1-year low of $13.60 and a 1-year high of $29.98. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 34.90, a price-to-earnings-growth ratio of 3.92 and a beta of 0.13.

Grocery Outlet (NASDAQ:GO) last posted its earnings results on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm earned $0.25 EPS. Equities research analysts forecast that Grocery Outlet will post 0.65 EPS for the current year.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the sale, the director now directly owns 70,938 shares in the company, valued at $1,340,728.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the sale, the director now directly owns 70,938 shares in the company, valued at $1,155,580.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the completion of the sale, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 500,095 shares of company stock valued at $8,876,548. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

Several large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Grocery Outlet in the first quarter valued at about $25,000. Blue Trust Inc. lifted its position in Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Grocery Outlet in the 3rd quarter valued at approximately $32,000. Innealta Capital LLC acquired a new position in shares of Grocery Outlet in the second quarter valued at approximately $38,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Grocery Outlet in the second quarter valued at approximately $82,000. 99.87% of the stock is owned by institutional investors and hedge funds.

About Grocery Outlet

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.